Gold price update morning of April 30: Continuing to decrease, investors hold their breath waiting

SJC gold bar price

As of 6:00 AM on April 30, SJC gold bar prices were listed by DOJI at 163-166 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at 163-166 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 163-166 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:00 AM on April 30, DOJI listed the price of gold rings at 162.5-165.5 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 163-166 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 162.5-165.5 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 8:30 PM on April 29, world gold prices were listed around the threshold of 4,582.8 USD/ounce, down 94.4 USD/ounce.

Gold price forecast

World gold prices last night were under downward pressure as investors cautiously awaited the results of the policy meeting of the US Federal Reserve (Fed).

According to analysts, the upward momentum of US bond yields and concerns about inflation are weakening the attractiveness of gold - an asset that does not yield yields. The USD index's rebound is also putting more pressure on the precious metal.

The market is currently focused on the meeting of the US Federal Open Market Committee (FOMC), ending on April 29. Most forecasts suggest that the FED will keep interest rates unchanged in the range of 3.5% - 3.75% for the third consecutive meeting.

TradingEconomics commented: "Perspectives for the rest of the year are still quite uncertain, as oil prices continue to rise and inflationary pressure increases due to the energy shock, although the US labor market and economic indicators remain stable.

In addition, geopolitical tensions in the Middle East continue to be a factor supporting gold prices in the long term. WTI oil prices have now returned above the 100 USD/barrel threshold after concerns about disruptions to global oil supply.

Another notable factor is the gold buying trend of central banks. The World Gold Council (WGC) said that central banks net bought 244 tons of gold in the first quarter, a sharp increase compared to 208 tons in the previous quarter.

Mr. John Reade - chief strategist of the WGC - said: "This is the first time after a long time the market has witnessed a significant correction in gold prices. This creates an opportunity for central banks to increase stockpiling.

Technically, experts believe that the buying side is heading towards the important resistance level of 4, 917.7 USD/ounce. In the opposite direction, if gold prices lose the support zone of 4, 500 - 4, 550 USD/ounce, adjustment pressure may increase in the short term.